NYSE$HAYW

Hayward Holdings Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Hayward's Q4 2023 financial performance reflected an increase in net sales and net income compared to the previous year, driven by higher volumes and favorable pricing.

Hayward Holdings reported an 8% increase in net sales to $278.5 million for Q4 2023, with net income rising by 94% to $31.0 million. The company's performance was driven by higher volumes and favorable pricing, leading to an improved gross profit margin of 49.2%.

  • Net sales increased 8% year-over-year to $278.5 million.
  • Net income increased 94% year-over-year to $31.0 million.
  • Adjusted EBITDA increased 42% year-over-year to $75.7 million.
  • Diluted EPS increased 100% year-over-year to $0.14.

Headline financials

Total Revenue

$278M

Previous: $259M+7.5%
EPS (adj)

$0.20

Previous: $0.11+81.8%
Adjusted EBITDA

$75.7M

Previous: $53.3M+42.0%
Adjusted EBITDA Margin

27.2%

Previous: 20.6%+32.0%
Capital Expenditures

-$33.4M

Previous: $6.09M-647.8%
Net Income

$31M

Previous: $16M+93.8%
Operating Income

$55.5M

Previous: $36.1M+53.7%
Gross Profit

$137M

Previous: $110M+25.2%
R&D Expense

$5.52M

No prior period
Stock-Based Comp

$2.46M

Previous: $2.16M+14.0%

Revenue & EPS history

Hayward · Revenue · Quarterly

$278M

Q4 2023+7.5%vs Q4 2022
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

Hayward is introducing 2024 guidance reflecting a return to sales and earnings growth driven by solid execution across the organization, positive price realization and continued technology adoption.

Tailwinds

  • Return to sales and earnings growth
  • Solid execution across the organization
  • Positive price realization
  • Continued technology adoption
  • Leveraging competitive advantages and driving increasing adoption of SmartPad™ pool equipment products

Headwinds

  • Continued uncertainty around global macro conditions
  • Uncertainty around consumer spending
  • Expectations regarding channel inventory levels
  • Uncertain economic conditions
  • Customers taking a cautious approach ahead of the peak pool season

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

+1.4%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+0.2%

Avg return

30 days after

48%

12 / 25 earnings

Positive

+22.4%

Q1 2021

Best reaction

-14.9%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.7%-8.9%-10.7%
Q4 2025-4.6%+2.0%-15.6%
Q3 2025+11.8%+8.0%+7.3%
Q1 2025+5.2%+3.7%+4.7%
Q4 2024+2.6%-1.3%-4.5%
Q3 2024+12.2%+9.1%+9.3%
Q2 2024+9.6%+4.5%+8.8%
Q1 2024+4.5%+7.0%+7.2%
Q4 2023+9.5%+6.0%+17.0%
Q3 2023-7.8%-3.1%+2.5%
Q2 2023+9.3%+12.5%+10.9%
Q1 2023+0.2%-4.4%-8.1%
Q4 2022-4.2%-3.5%-11.0%
Q3 2022-4.1%-2.9%+3.6%
Q2 2022-14.9%-15.6%-19.8%
Q1 2022+2.6%-3.8%+0.4%
Q4 2019+3.5%-4.5%-0.5%
Q4 2021-2.8%-7.7%-4.3%
Q3 2021-5.2%-5.1%+2.4%
Q3 2020-5.2%-5.1%+2.4%
Q2 2021-0.5%-5.4%-12.1%
Q2 2020-0.5%-5.4%-12.1%
Q1 2020-1.6%+0.0%+0.5%
Q4 2020-1.6%+0.0%+0.5%
Q1 2021+22.4%+21.8%+26.0%

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